N-Q 1 ohio96.htm OHIO TAX-EXEMPT MONEY MARKET FUND

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT COMPANY


Investment Company Act file number: 811-6083

Name of Registrant: VANGUARD OHIO TAX-FREE FUNDS

Address of Registrant: P.O. Box 2600
Valley Forge, PA 19482

Name and address of agent for service: R. Gregory Barton, Esquire
P.O. Box 876
Valley Forge, PA 19482

Registrant’s telephone number, including area code: (610) 669-1000


Date of fiscal year end: November 30

Date of reporting period: August 31, 2004

Item 1: Schedule of Investments


August 31, 2004
Vanguard Ohio Tax-Exempt Money Market Fund
Coupon
Maturity
Date


Face
Amount
(000)

 
Market
Value
(000)

MUNICIPAL BONDS (99.0%)




Akron OH BAN   2.00% 11/4/2004     $  4,500   $  4,507  
Akron OH Bath & Copley Joint Township Hosp. Dist. Rev 
(Summa Health Systems) VRDO  1.34% 9/8/2004 LOC  15,000   15,000  
Akron OH Income Tax Rev. (Community Learning Center)  2.00% 12/1/2004 (3)  2,000   2,005  
Akron OH Income Tax Rev. (Community Learning Center) TOB VRDO  1.38% 9/8/2004 (3)*  2,320   2,320  
Butler County OH BAN  2.00% 9/23/2004    11,000   11,006  
Butler County OH Hosp. Fac. Rev. (Middletown Regional Hosp.) VRDO  1.33% 9/8/2004 LOC  4,695   4,695  
Canfield OH Local School Dist. BAN  2.00% 9/23/2004    5,000   5,002  
Cincinnati OH City School Dist. GO  5.00% 12/1/2004 (1)  1,800   1,817  
Cincinnati OH City School Dist. GO TOB VRDO  1.34% 9/8/2004 (4)*  7,720   7,720  
Cincinnati OH City School Dist. GO TOB VRDO  1.38% 9/8/2004 (4)*  3,555   3,555  
Cincinnati OH City School Dist. GO TOB VRDO  1.38% 9/8/2004 (4)*  8,000   8,000  
Cleveland OH Airport System Rev. TOB VRDO  1.42% 9/8/2004 (4)*  1,500   1,500  
Cleveland OH Airport System Rev. VRDO  1.35% 9/8/2004 (4)  12,300   12,300  
Cleveland OH State Univ. Rev. VRDO  1.33% 9/8/2004 (3)  14,535   14,535  
Cleveland OH Water Works Rev  6.00% 1/1/2005 (1)  4,545   4,615  
Cleveland OH Water Works Rev. VRDO  1.33% 9/8/2004 (4)  10,000   10,000  
Clinton County OH Hosp. Rev. (Memorial Hosp.) VRDO  1.32% 9/8/2004 LOC  22,800   22,800  
Columbus OH City School Dist. Construction & Improvement GO TOB VRDO  1.36% 9/8/2004 (4)*  2,750   2,750  
Columbus OH Sewer VRDO  1.32% 9/8/2004    7,700   7,700  
Cuyahoga County OH BAN  2.00% 9/16/2004    8,550   8,553  
Cuyahoga Falls OH Notes  2.00% 12/16/2004    10,000   10,022  
Fairfield County OH BAN  2.00% 9/24/2004    1,469   1,470  
Fairfield Township OH Road Improvement BAN  2.25% 7/14/2005    2,500   2,510  
Franklin County OH Hosp. Rev. (OhioHealth Corp.) VRDO  1.31% 9/8/2004 LOC  7,400   7,400  
Franklin County OH Hosp. Rev. (U.S. Health Corp.) VRDO  1.30% 9/8/2004 LOC  18,990   18,990  
Grove City OH BAN  1.75% 12/8/2004    7,396   7,409  
Grove City OH Pinnacle Club Drive Construction BAN  3.00% 8/25/2005    8,279   8,401  
Hamilton County OH Hosp. Fac. Rev. (Health Alliance of Greater Cincinnati) VRDO  1.32% 9/8/2004 (1)  12,727   12,727  
Hamilton County OH Hosp. Fac. Rev. (Health Alliance of Greater Cincinnati) VRDO  1.32% 9/8/2004 (1)  3,485   3,485  
Hamilton OH Electric System Rev. VRDO  1.32% 9/8/2004 (4)  16,060   16,060  
Hamilton OH Electric System Rev. VRDO  1.32% 9/8/2004 (4)  4,000   4,000  
Huron County OH Hosp. Fac. Rev. (Fisher-Titus Medical Center) VRDO  1.34% 9/8/2004 LOC  10,000   10,000  
Independence OH BAN  2.25% 5/11/2005    8,400   8,454  
Kent State Univ. Ohio VRDO  1.32% 9/8/2004 (1)  12,400   12,400  
Lakewood OH BAN  2.25% 6/2/2005    5,100   5,124  
Lebanon OH BAN  2.00% 9/22/2004    3,500   3,502  
Licking County OH Joint Vocational School Dist. TOB VRDO  1.36% 9/8/2004 (1)*  2,085   2,085  
Madeira OH City School Dist. BAN  1.75% 10/12/2004    5,000   5,004  
Mason OH BAN  3.00% 6/30/2005    2,000   2,021  
Ohio Air Quality Fac. Rev. (Columbus Southern Power Co.) VRDO  1.33% 9/8/2004 LOC  9,000   9,000  
Ohio Building Auth. Rev. (State Correctional Fac.)  5.25% 10/1/2004    1,000   1,003  
Ohio Building Auth. Rev. (State Correctional Fac.)  5.70% 10/1/2004    2,725   2,735  
Ohio Building Auth. Rev. (State Correctional Fac.)  5.90% 10/1/2004 (1)(Prere.)  4,435   4,541  
Ohio Building Auth. Rev. (Vera Rifle Center) TOB VRDO  1.37% 9/8/2004 *  6,335   6,335  
Ohio Common Schools GO TOB VRDO  1.36% 9/8/2004 *  4,315   4,315  
Ohio Common Schools GO TOB VRDO  1.35% 9/8/2004 *  2,405   2,405  
Ohio GO TOB VRDO  1.35% 9/8/2004 (4)*  2,955   2,955  
Ohio GO TOB VRDO  1.36% 9/8/2004 (2)*  7,525   7,525  
Ohio Higher Educ. Capital Fac. Rev. TOB VRDO  1.38% 9/8/2004 *  5,255   5,255  
Ohio Higher Educ. Fac. Comm. Rev. (Case Western Reserve Univ.) CP  1.14% 9/8/2004    4,000   4,000  
Ohio Higher Educ. Fac. Comm. Rev. (Case Western Reserve Univ.) CP  1.14% 9/8/2004    5,000   5,000  
Ohio Higher Educ. Fac. Comm. Rev. (Case Western Reserve Univ.) CP  1.17% 10/6/2004    5,000   5,000  
Ohio Higher Educ. Fac. Comm. Rev. (Case Western Reserve Univ.) CP  1.17% 11/10/2004    19,000   19,000  
Ohio Higher Educ. Fac. Comm. Rev. (Case Western Reserve Univ.) VRDO  1.36% 9/1/2004    5,860   5,860  
Ohio Higher Educ. Fac. Comm. Rev. (College Mount St. Joseph) VRDO  1.35% 9/8/2004 LOC  16,700   16,700  
Ohio Higher Educ. Fac. Comm. Rev. (John Carroll Univ.) VRDO  1.34% 9/8/2004 LOC  4,600   4,600  
Ohio Higher Educ. Fac. Comm. Rev. (Kenyon College) VRDO  1.40% 9/8/2004    10,300   10,300  
Ohio Higher Educ. Fac. Comm. Rev. (Mount Union College) VRDO  1.34% 9/8/2004 LOC  1,365   1,365  
Ohio Higher Educ. Fac. Comm. Rev. (Pooled Financing) VRDO  1.35% 9/8/2004 LOC  7,940   7,940  
Ohio Higher Educ. GO TOB VRDO  1.38% 9/8/2004 *  20,705   20,705  
Ohio Higher Educ. GO TOB VRDO  1.40% 9/8/2004 *  17,570   17,570  
Ohio Housing Finance Agency Mortgage Rev. TOB VRDO  1.41% 9/8/2004 *  9,485   9,485  
Ohio Housing Finance Agency Mortgage Rev. TOB VRDO  1.41% 9/8/2004 *  5,130   5,130  
Ohio Housing Finance Agency Mortgage Rev. VRDO  1.32% 9/8/2004    9,900   9,900  
Ohio Housing Finance Agency Mortgage Rev. VRDO  1.35% 9/8/2004    10,090   10,090  
Ohio Housing Finance Agency Mortgage Rev. VRDO  1.36% 9/8/2004    5,985   5,985  
Ohio Housing Finance Agency Mortgage Rev. VRDO  1.37% 9/8/2004    13,920   13,920  
Ohio Housing Finance Agency Mortgage Rev. VRDO  1.37% 9/8/2004    1,770   1,770  
Ohio Housing Finance Agency Mortgage Rev. VRDO  1.37% 9/8/2004    8,000   8,000  
Ohio Solid Waste Rev. (BP Exploration & Oil Inc.) VRDO  1.38% 9/1/2004    14,600   14,600  
Ohio Solid Waste Rev. (BP Exploration & Oil Inc.) VRDO  1.38% 9/1/2004    3,500   3,500  
Ohio Solid Waste Rev. (BP Exploration & Oil Inc.) VRDO  1.38% 9/1/2004    1,300   1,300  
Ohio Solid Waste Rev. (BP Exploration & Oil Inc.) VRDO  1.38% 9/1/2004    9,000   9,000  
Ohio Solid Waste Rev. (BP Exploration & Oil Inc.) VRDO  1.39% 9/1/2004    200   200  
Ohio State Univ. General Receipts Rev. CP  1.00% 9/10/2004    17,985   17,985  
Ohio State Univ. General Receipts Rev. VRDO  1.32% 9/8/2004    6,600   6,600  
Ohio Water Dev. Auth. PCR (Ohio Edison Co.) VRDO  1.38% 9/1/2004 LOC  10,100   10,100  
Ohio Water Dev. Auth. PCR (Toledo Edison Co.) VRDO  1.35% 9/8/2004 LOC  4,500   4,500  
Ohio Water Dev. Auth. PCR TOB VRDO  1.36% 9/8/2004 *  8,280   8,280  
Ohio Water Dev. Auth. Rev. (Pure Water) VRDO  1.33% 9/8/2004 (1)  5,800   5,800  
Painesville OH Local School Dist. BAN  1.76% 2/17/2005    2,500   2,504  
Port of Greater Cincinnati OH Dev. Auth. Rev 
(National Underground Railroad Freedom Center) VRDO  1.40% 9/8/2004 LOC  7,000   7,000  
Powell OH BAN  1.50% 11/3/2004    2,500   2,502  
Rickenbacker OH Port Auth. Econ. Dev. Rev. (YMCA of Central Ohio) VRDO  1.35% 9/8/2004 LOC  8,500   8,500  
Stow OH BAN  2.50% 5/12/2005    14,645   14,763  
Summit County OH Rev. (Western Reserve Academy) VRDO  1.34% 9/8/2004 LOC  6,000   6,000  
Toledo OH City School Dist. GO TOB VRDO  1.35% 9/8/2004 (3)*  1,800   1,800  
Toledo OH City Services Special Assessment VRDO  1.35% 9/8/2004 LOC  7,200   7,200  
Toledo OH City Services Special Assessment VRDO  1.35% 9/8/2004 LOC  5,000   5,000  
Univ. of Akron OH General Receipts Rev. VRDO  1.32% 9/8/2004 (3)  5,000   5,000  
Univ. of Cincinnati OH General Receipts VRDO  1.32% 9/8/2004 (2)  21,755   21,755  
Univ. of Toledo OH General Receipts VRDO  1.35% 9/1/2004 (3)  20,010   20,010  
Westlake OH BAN  1.80% 6/9/2005    1,682   1,685  
Willoughby OH BAN  1.75% 12/16/2004    4,450   4,458  
Outside Ohio:  
Puerto Rico Highway & Transp. Auth. Rev. VRDO  1.32% 9/8/2004 (2)  8,000   8,000  
Puerto Rico Public Finance Corp. TOB VRDO  1.32% 9/8/2004 (11)*  9,988   9,988  
Puerto Rico Public Finance Corp. TOB VRDO  1.35% 9/8/2004 (1)(2)*  5,085   5,085  

TOTAL MUNICIPAL BONDS 
 (Cost $732,948)            732,948

OTHER ASSETS AND LIABILITIES (1.0%)             7,402

NET ASSETS (100%)             $740,350

*Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to  qualified institutional buyers. At August 31, 2004, the aggregate value of these securities was $134,763,000, representing 18.2% of net assets.

KEY TO ABBREVIATIONS

BAN — Bond Anticipation Note.
COP — Certificate of Participation.
CP — Commercial Paper.
FR — Floating Rate.
GAN — Grant Anticipation Note.
GO — General Obligation Bond.
IDA — Industrial Development Authority Bond.
IDR — Industrial Development Revenue Bond.
PCR — Pollution Control Revenue Bond.
PUT — Put Option Obligation.
RAN — Revenue Anticipation Note.
TAN — Tax Anticipation Note.
TOB — Tender Option Bond.
TRAN — Tax Revenue Anticipation Note.
UFSD — Union Free School District.
USD — United School District.
VRDO — Variable Rate Demand Obligation.
(ETM) — Escrowed to Maturity.
(Prere.) — Prerefunded.

Scheduled principal and interest payments are guaranteed by:
(1)     MBIA (Municipal Bond Insurance Association).
(2)     AMBAC (Ambac Assurance Corporation).
(3)     FGIC (Financial Guaranty Insurance Company).
(4)     FSA (Financial Security Assurance).
(5)     BIGI (Bond Investors Guaranty Insurance).
(6)     Connie Lee Inc.
(7)     FHA (Federal Housing Authority).
(8)     CapMAC (Capital Markets Assurance Corporation).
(9)     American Capital Access Financial Guaranty Corporation.
(10)   XL Capital Assurance Inc.
(11)   CIFG (CDC IXIS Financial Guaranty).
The insurance does not guarantee the market value of the municipal bonds.

LOC — Scheduled principal and interest payments are guaranteed by bank letter of credit.

Investment Securities: Securities are valued at amortized cost, which approximates market value.


Item 2: Controls and Procedures.

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. During the last fiscal quarter, there was no significant change in the Registrant’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3:

Exhibits.
(a) Certifications.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

VANGUARD OHIO TAX-FREE FUNDS

BY: (signature)
(HEIDI STAM)
JOHN J. BRENNAN*
CHIEF EXECUTIVE OFFICER

Date: October 22, 2004

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

VANGUARD OHIO TAX-FREE FUNDS

BY: (signature)
(HEIDI STAM)
JOHN J. BRENNAN*
CHIEF EXECUTIVE OFFICER

Date: October 22, 2004

VANGUARD OHIO TAX-FREE FUNDS

BY: (signature)
(HEIDI STAM)
THOMAS J. HIGGINS*
TREASURER

Date: October 22, 2004

*By Power of Attorney. See File Number 2-57689, filed on December 26, 2002. Incorporated by Reference.